Immune Design's stock plummets toward record low after cancer vaccine program discontinued [MarketWatch]
IMMUNE DESIGN CORP COMMON STOCK (IMDZ)
Last immune design corp common stock earnings: 11/6 04:01 pm
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Source: MarketWatch
Immune Design's stock plummets toward record low after cancer vaccine program discontinued Shares of Immune Design Corp. IMDZ, -44.80% took a 42% dive toward a record low in premarket trade Friday, after the immunotherapy company said it discontinued its CMB305 cancer vaccine program. The company said late Thursday it made the design after an early analysis of a phase 2 study showed CMB305 combined with Tecentriq is not likely to show a survival benefit in relapsed synovial sarcoma patients. The company said it plans to focus on accelerating and expanding the development of its lymphoma therapy, G100. Leerink analyst Jonathan Chang cut his rating on Immune Design to market perform from outperform and slashed his price target on the stock (IMDZ) to $3 from $7. Chang wrote in a note to clients that while he views the decision to focus on G100 as a positive, "in the context of past disappointments that have pressured IMDZ shares, we believe this recent update could add to investor con
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